Up until now you may have focused only on investment, now it’s time to paint your retirement picture.

In planning for your retirement in North Carolina or South Carolina, you must take into consideration the average life expectancy.

The good news is it has increased from 49 years in 1901 to 78.64 years. If you are a 65 year old female, you’ll most likely live to be at least 81!

And while statistics are great and to be used as a guide… my Mom and Dad are both 85! They have already been gifted with an additional 36 years.

When asked the question, how much money do we need to retire, some experts will tell you, you need only 60 to 80% of your current income. However, the real answer is How Much Money Do YOU Need To Retire?

And will moving to North Carolina or South Carolina make your money last longer? And while that question is important, before you get there you need to decide your lifestyle.

Each of us is different and the lifestyle we dream of in retirement is as individual and unique as we are.

So regardless of what the thousands of experts, publications and online retirement sites tell you, you must do your homework and find out about YOUR finances in retirement. And what your finances will be living in North Carolina or South Carolina.

You may want a pencil and paper!

Now…some critical questions to begin with at retirement:

will you still have children in college?

will your aging parents need financial assistance?

do you have health care coverage beyond medicare?

will you have prescription coverage?

do you have long term health care coverage?

have you contemplated end life issues?

what are the effects of inflation?

can you afford the cost of living where you currently live?

can you afford the taxes?

do you want to own a home?

can you afford home improvement needs?

would you consider moving?

do you want to be able to take vacations?

do you like to dine out frequently?

what are your hobbies?

are you in good health?

what is the cost of maintaining your health?

will you want to provide money to your children and grandchildren?

how much money will your investments produce?

do you have a 401k or pension to draw on?

at what age will you collect Social Security?

should you continue to invest during retirement?

should you consult with a financial planner?

…and the list goes on and on.

There are literally thousands of publications and online sites covering a wide range of topics about retirement. Let’s explore some of what you can learn from these publications and websites.

The Social Security Administration provides information about your estimated social security benefits, family benefits and earnings, taxes, and credits. http://www.ssa.gov/mystatement/

For questions about pension guarantees, you can contact the Pension Benefit Guaranty Corporation at www.pbgc.gov

You may find it helpful in the process of finding out about your finances for retirement to use a “retirement calculator”. You can also go to www.firecalc.com.

What I want you to do now is take it a step farther in your creating a fulfilling retirement and as yourself …Do I Need To Earn A Living In Retirement Living in North Carolina or South Carolina?

Ultimate Guide To Finding Your Best Places To Live In The Carolinas

Bob Bencivenga is a professional site locator and location analyst for major corporations. Bob researches the growth of NC and SC to find the Best Places to Retire or Relocate that are still affordable.

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